The Kingdom of Tonga has received a further payout under its drought insurance policy with the Pacific Catastrophe Risk Insurance Company (PCRIC), providing timely financial support to strengthen drought preparedness on the islands of Ha’apai and Tongatapu. The payout follows the activation of Tonga’s parametric drought cover, which is supported by premium funding from the Global Shield Solutions Platform (GSSP).
The US$33,978 (TOP$78,981) payout is designed to help trigger early action before drought conditions become more severe, reducing the social and economic impacts of prolonged dry spells on local communities. It forms part of a broader approach to financial protection that enables Pacific Island countries to respond more quickly to climate-related shocks. The latest payout underscores the value of GSSP-funded premium support in making disaster risk insurance more accessible to Pacific Island countries.